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US stock market report – NVIDIA & Harley Davidson shares in focus

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

All three US stock markets finished higher overnight, benefitting from another strong earnings result and some pause for thought ahead of inflation data on Friday.

The Nasdaq outperformed, gaining 1.3% as the bond yield continues to retreat from recent highs. The S&P 500 and Dow Jones delivered similar results, up 0.8% and 1.1%, respectively.

NVIDIA deal finished

Shares in semiconductor leader NVIDIA (NASDAQ: NVDA) were up 1% despite news that it would take a US$1 billion hit after announcing the deal to acquire competitor ARM Holdings from Softbank fell through due to regulatory concerns.

Harley Davidson

Harley Davidson (NYSE: HOG) was the latest to surprise investors, reporting an unexpected US$21 million profit on a 25% spike in revenue amid a surge in demand for electric-powered bikes. Harley Davidson shares jumped 15% on the news.

US trade deficit spikes

The US trade deficit widened more than expected in January to US$80 billion as a stronger US dollar resulted in a growth in demand for imports.

US stock market movers

Here’s how other popular US stocks performed on Tuesday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to follow US stock markets higher at the open this morning. For a round-up of the latest news, check out my ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Get the golden rules

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Disclosure: At the time of publishing, Drew owns shares in Alibaba.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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